This blog began through a NIFA grant for Missouri Beginning Farmers. It continues today as a way for beginning farmers to learn about new ideas and to hear about upcoming events of interest. It is maintained by Debi Kelly (kellyd@missouri.edu).

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About Me

As an Extension Associate with the University of Missouri, I work with beginning farmers, small farms, alternative agriculture and organic farming. I am also the Co-coordinator for the Missouri Sustainable Agriculture and Research (SARE) Education Professional Development Program (PDP).

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Tuesday, March 18, 2014

Microloan Program

Farm Service Agency (FSA) developed the
Microloan program to better serve the unique financial operating needs of
beginning, niche and small family farm operations. FSA offers
applicants a Microloan designed to help farmers with credit needs of $35,000 or
less. The loan features a streamlined application process built to fit the
needs of new and smaller producers. This loan program will also be
useful to specialty crop producers and operators of community supported
agriculture (CSA).

Eligible applicants can apply for a maximum
amount of $35,000 to pay for initial start-up expenses such as hoop houses to
extend the growing season, essential tools, irrigation and annual expenses such
as seed, fertilizer, utilities, land rents, marketing, and distribution
expenses. As financing needs increase, applicants can apply for a regular
operating loan up to the maximum amount of $300,000 or obtain financing
from a commercial lender under FSA’s Guaranteed Loan Program. Individuals
who are interested in applying for a microloan or would like to discuss other
farm loan programs available should contact our office.